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Four Springs Capital Trust Fries Up $3M Sale of NNN Leased Bojangles in Birmingham
Four Springs Capital Trust has sold a 3,718-square-foot retail property located at 1880 Gadsden Highway in Birmingham, AL for $2.8 million. The single tenant absolute triple net leased property leased to restaurant chain Bojangles had approximately six years of firm term remaining.
Karly Iacono of CBRE represented the seller and procured the buyer, a private real estate fund.
“Short term net lease provides attractive risk adjusted returns in today’s market,” said Iacono. “In addition, the demand for quick serve restaurants both from a consumer and investor standpoint remains strong.”
The 2013-constructed property is located in one of the main retail corridors of Birmingham and next to major anchor retailers such as Target, Home Depot, Lowe’s, Hobby Lobby and more. It is positioned at a signalized intersection for easy access and visibility.
- ◦Sale/Acquisition
